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All Journal Equilibrium: Jurnal Ilmiah Ekonomi, Manajemen dan Akuntansi IJEBD (International Journal Of Entrepreneurship And Business Development) Jurnal Manajemen Strategi dan Aplikasi Bisnis JIKA: Jurnal Ilmu Keuangan dan Perbankan International Journal of Economics, Business and Accounting Research (IJEBAR) Jurnal Informasi dan Teknologi POINT International Journal of Business, Economics, and Social Development Interdisciplinary Social Studies Jurnal Ekonomi Indonesian Journal of Business Analytics (IJBA) Jurnal Ekonomika Dan Bisnis Jurnal Publika Pengabdian Masyarakat Journal of Management, Accounting, General Finance and International Economic Issues (MARGINAL) Journal of Social Science Journal Research of Social Science, Economics, and Management Jurnal Ekonomi, Teknologi dan Bisnis IIJSE Majapahit Journal of Islamic Finance dan Management Majapahit Journal of Islamic Finance dan Management
Erwin Budianto
Universitas Swadaya Gunung Jati
Humanities Astronomy Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Electrical & Electronics Engineering Engineering Environmental Science Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Mechanical Engineering 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 Effect Of Roa, Cr, And Der On Stock Prices In The Food And Beverage Sector Listed On The Indonesian Stock Exchange (Bei) In 2018-2022 Boby Nata Kusuma; Mohamad Iqbal Syafeiq; Rupi’ah Rupi’ah; Erwin Budianto
Journal Of Social Science (JoSS) Vol 3 No 6 (2024): JOSS : Journal of Social Science
Publisher : Al-Makki Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.57185/joss.v3i6.295

Abstract

The purpose of this study is to ascertain how the food and beverage industry companies listed on the Indonesia Stock Exchange (IDX) are affected by return on assets, debt-to-equity ratios, and current ratios. The Multiple Linear Regression technique and Purposive Sampling of 23 companies over a 5-year research period are applied to secondary data. The SPSS software, version 29, was used to conduct this investigation. They discovered that stock prices are negatively impacted by ROA and CR but not by DER. Then, stock prices are simultaneously impacted by CR, DER, and ROA.
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.
Financial Performance Analysis of PT Fast Food Indonesia Listed on the Indonesia Stock Exchange in 2022-2023 Elvina Diah Palupi; Ferida Ferida; Erwin Budianto
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 8 No 2 (2025): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v8i2.6988

Abstract

This study aims to analyze the financial performance of PT Fast Food Indonesia Tbk (KFC franchise holder in Indonesia) in the period 2022–2023 using financial ratio analysis, including liquidity, solvency, activity, and profitability. Data are taken from the company's financial statements published on the Indonesia Stock Exchange (IDX). The results of the study show that the company experienced a significant decline in performance: (1) Liquidity ratios (Current Ratio and Quick Ratio) are below industry standards, indicating an inability to meet short-term obligations; (2) Solvency ratios (DER and DAR) show a high dependence on debt with DER reaching 440.24% (2023), indicating serious financial risk; (3) Activity ratios (TATO and ITO) are inefficient, reflecting suboptimal utilization of assets and inventory; (4) Profitability ratios (NPM and ROA) are negative, with ROA -10.69% (2023), indicating operational losses. The implications of this study emphasize the need for improved working capital management, debt restructuring, operational efficiency, and revenue-increasing strategies. Limitations of the study include the short analysis period and focus on one company. Suggestions for further research include the use of longer-term data and more comprehensive analysis.
Financial Performance Evaluation of PT Sarimelati Kencana Tbk Using Profitability Ratios, Activity Ratios, and Solvency Ratios for the Period 2021-2023 Dilla Shafia; Dianita Rezki Ayu; Erwin Budianto
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 8 No 3 (2025): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v8i3.7352

Abstract

This study aims to assess the financial performance of PT Sarimelati Kencana Tbk from 2021 to 2023 using several types of financial ratio analysis. The financial ratios used are activity ratios (Total Asset Turnover), profitability ratios (Return on Assets), and solvency ratios (Debt to Asset Ratio). Pizza Hut Indonesia has a significant amount of fixed assets and outlets, making it important to determine whether these assets are being utilized productively through TATO analysis. Since PT Sarimelati Kencana experienced profit fluctuations (including losses in 2023), it is crucial to assess the effectiveness of managerial and operational strategies using ROA analysis, as ROA indicates how efficiently management utilizes assets to generate profits. Meanwhile, PT Sarimelati Kencana is also facing financial pressure marked by store closures and layoffs, so the DAR analysis can be used to measure the proportion of the company's assets financed by debt, whether the financing is healthy or overly reliant on debt. PT Sarimelati Kencana Tbk oversees the Pizza Hut franchise in Indonesia, which has faced significant challenges in recent years, including store closures and financial losses. The research methodology employed is descriptive quantitative, utilizing secondary data analysis obtained from the company's official financial statements. The findings indicate that the debt ratio is below industry norms, suggesting suboptimal asset utilization. The ROA ratio shows a declining trend to negative in 2023, reflecting a decline in profit. Meanwhile, the DAR ratio is very high and exceeds industry standards, indicating significant debt dependence and financial risk. These findings suggest the need for improved operational efficiency, reduced debt dependence, and strategies to improve the company's profitability. This study aims to serve as a reference for management decision-making and to enhance financial analysis studies in the Indonesian food and beverage industry.
Analysis of Financial Performance Based on Financial Ratios at PT. Garuda Indonesia TBK Listed on the IDX in 2021-2023 Dinda Arnelia Suryani; Heleun Auliasari; Erwin Budianto
Interdisciplinary Social Studies Vol. 4 No. 3 (2025): Interdisciplinary Social Studies
Publisher : International Journal Labs

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55324/iss.v4i3.843

Abstract

PT Garuda Indonesia Tbk, Indonesia’s national airline, has experienced prolonged financial distress caused by operational inefficiencies, debt mismanagement, and the significant impact of the COVID-19 pandemic. Despite its strategic role in national connectivity and global reputation, Garuda continues to struggle in maintaining liquidity, solvency, profitability, and asset efficiency. This study aims to assess the company’s financial performance during the 2021–2023 period using key financial ratios. A descriptive quantitative method was employed, analyzing secondary data from the company’s official financial statements. The assessment covered four key ratios: liquidity (quick ratio and operating cash flow ratio), solvency (debt-to-asset and cash flow-to-debt), profitability (return on assets and net profit margin), and activity (total and fixed asset turnover). Results indicate slight improvements in liquidity and solvency, but performance remains below standard benchmarks. Profitability was volatile, with a significant recovery in 2022 followed by a decline in 2023. Asset efficiency remained weak throughout the period. These findings reveal Garuda’s unstable financial condition and the urgency for strategic restructuring. The study highlights the need for improved asset utilization, sustainable cost management, and continued financial monitoring to support recovery. Future research may explore qualitative factors like management strategies and industry dynamics.
THE EFFECT OF PROFITABILITY AND LEVERAGE ON FIRM VALUE WITH INSTITUTIONAL OWNERSHIP AS A MODERATING VARIABLE IN CONSUMER NON-CYCLICAL FIRMS Kholid Ubaedillah; Erwin Budianto; Agustina Budianto
International Journal of Economics, Business and Accounting Research (IJEBAR) Vol 10 No 2 (2026): IJEBAR: Vol. 10, Issue 2, June 2026
Publisher : LPPM ITB AAS INDONESIA (d.h STIE AAS Surakarta)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/ijebar.v10i2.19865

Abstract

This study aims to measure the impact of profitability and leverage on firm value, with institutional ownership serving as a moderator variable. Focusing on companies in the Non-Cyclical Consumer Goods sector listed on the Indonesia Stock Exchange from 2022 to 2024, this study employs a quantitative associative approach and uses secondary financial data. Through purposive sampling, this study analyzes 36 firm-year observations using SPSS 25 via multiple linear regression and moderated regression analysis. Empirical findings indicate that profitability (ROA) positively and significantly influences firm value (Tobin’s Q). Similarly, leverage (DER) exerts a positive and significant effect on firm value in the baseline model. Moderation analysis reveals that institutional ownership strengthens the relationship between profitability and firm value, but does not significantly moderate the effect of leverage. The uniqueness of this study lies in its focus on the Non-Cyclical Consumer Goods sector amid recent economic changes. These results suggest that future research should incorporate additional corporate governance indicators and cross-industry comparisons to better identify the drivers of firm value.
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
Co-Authors Adi Setiawan Agustina Agustina Agustina Budianto Alda Wulan Vitari Anis Purwanti Astri Hartianti Benny Dhevyanto Boby Nata Kusuma Dafa Shahwalludin Hidayat Dev Anand Dianita Rezki Ayu Dilla Shafia Dinda Arnelia Suryani Elvina Diah Palupi Ferida Ferida Habibah Nurmala Sari Haris Budiana Heleun Auliasari Irbah Qurrotu’aeni Kholid Ubaedillah Lilis Setiawati Maiya Liza Maiyaliza Maiyaliza Mardiyani Melinda Handayani Miftah Alfarid Fathurahman Mochamad Cece Farhan Siddiq Mohamad Iqbal Syafeiq Mohammad Abdi Abdillah Muhamad Wildan Maulana Muhammad Ijlal Siraj Muyassar Muhammad Iqbal Novi Dwi Putri Nurhana Dhea Parlina Nurhana Dhea Pharlina Ratnawati Khaeruni Ridho Dwi Nugroho Rizky Nur Ramdhani Rupi’ah Rupi’ah Selvi Meiviani Redianti Sri Nanda Hikmatulloh Uus Khasanah