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PENGARUH NET PROFIT MARGIN, PERTUMBUHAN PERUSAHAAN, DAN DEBT TO ASSET RATIO TERHADAP HARGA SAHAM DENGAN KEBIJAKAN DIVIDEN SEBAGAI VARIABEL INTERVENING PADA PERUSAHAAN PERTAMBANGAN BATU BARA YANG TEDAFTAR DI BEI TAHUN 2022-2024 Eliza Khairotun Nisak; Ika Wahyuni; Febri Ariyantiningsih
Jurnal Mahasiswa Entrepreneurship (JME) Vol 5 No 2 (2026): FEBRUARI
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v5i2.8342

Abstract

The purpose of this study is to analyze and test the effect of Net Profit Margin, Company Growth, and Debt to Asset Ratio on Stock Price with Dividend Policy as an intervening variable. The object of this study is a coal mining company listed on the Indonesia Stock Exchange in 2022-2024. The analytical method used is Partial Least Squares (PLS) using the Smart PLS 3.0 application, which includes classical assumption tests, including multicollinearity and normality tests, coefficient of determination tests, structural equation analysis (Inner Model), and research hypothesis testing. The results of the study indicate that Net Profit Margin has a positive but insignificant effect on Dividend Policy and Stock Price. Company Growth has a significant negative effect on Dividend Policy, while Debt to Asset Ratio has a negative but insignificant effect on Dividend Policy. Furthermore, Company Growth has a negative but insignificant effect on Stock Price, but Debt to Asset Ratio has a positive but insignificant effect on Stock Price. Then, Dividend Policy is also proven to have a negative but insignificant effect on Stock Price. The results of the indirect effect hypothesis test indicate that Net Profit Margin has a negative but insignificant effect on Stock Price through Dividend Policy. Meanwhile, company growth and Debt to Asset Ratio have a positive but insignificant influence on stock prices through dividend policy.
PENGARUH DEBT TO EQUITY RATIO (DER), TOTAL ASSET TURNOVER (TATO), DAN CURRENT RATIO (CR) TERHADAP HARGA SAHAM DENGAN RETURN ON EQUITY (ROE) SEBAGAI VARIABEL INTERVENING PADA PERUSAHAAN LQ45 YANG TERDAFTAR DI BEI PERIODE 2022-2024 Nadiah Silviana; Ika Wahyuni; Ida Subaida
Jurnal Mahasiswa Entrepreneurship (JME) Vol 5 No 2 (2026): FEBRUARI
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v5i2.8386

Abstract

The capital market plays a crucial role as an investment platform for investors and a source of funding for companies, particularly those listed on the LQ45 index, known for their liquidity and strong performance. This research was conducted with the aim of analyzing the influence of Debt to Equity Ratio, Total Asset Turnover, and Current Ratio on stock prices, with Return on Equity as an intevening variable. The approach used in this study is quantitative descriptive. The population of this study includes companies listed in the LQ45 index of the Indonesia Stock Exchange for the period 2022–2024, using a purposive sampling technique. For data analysis, the method used was Partial Least Squares – Structural Equation Modeling (PLS-SEM) using the Smart PLS 3.0 application. The results show that Debt to Equity Ratio and Total Asset Turnover show a positive but insignificant effect on Return on Equity, while the Current Ratio shows a negative but insignificant effect on Return on Equity. On the other hand, Debt to Equity Ratio and Total Asset Turnover have a significant negative effect on stock prices, while Current Ratio and Return on Equity show a positive but insignificant effect on stock prices. In the indirect effect test, Debt to Equity Ratio and Total Asset Turnover have a positive but insignificant effect on stock prices through Return on Equity, while Current Ratio shows a negative but insignificant effect on stock prices through Return on Equity.
PENGARUH STRUKTUR MODAL, UKURAN PERUSAHAAN, DAN PROFITABILITAS TERHADAP HARGA SAHAM DENGAN KEBIJAKAN DIVIDEN SEBAGAI VARIABEL INTERVENING PADA SEKTOR PERBANKAN DI BEI TAHUN 2022-2024 Fitri Utami Wayan Sari; Ika Wahyuni; Lita Permata Sari
Jurnal Mahasiswa Entrepreneurship (JME) Vol 5 No 3 (2026): MARET 2026
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v5i3.8592

Abstract

The capital market serves as in investment medium utilized by investors to allocate capital with the expectation of generating future returns. In making investment decisions, investors generally consider various factors capable of influencing a company’s stock price, including capital structure, firm size, profitability, and the implemented dividend policy. This study aims to analyze the effect of capital structure, firm size, and profitability on stock prices with dividend policy serving as an intervening variable in banking sector companies listed on the Indonesia Stock Exchange (IDX) during the 2022–2024 period. The research employs a quantitative approach using data obtained from companies’ financial statements. The population consists of banking sector companies listed on the Indonesia Stock Exchange, with a sample of 15 companies selected through a purposive sampling technique. Data were analyzed using the Structural Equation Modeling-partial Least Square (PLS-SEM) method, with the assistance of SmartPLS 3.0. software. The results indicate that capital structure and profitability have a positive and significant effect on dividend policy, while firm size has a negative and significant effect on dividen policy. Regarding stock prices, firm size and profitability have a positive and significant effect, whereas capital structure has an negative but insignificant effect. Furthermore, dividend policy has a positive but insignificant effect on stock prices. The indirect effect analysis reveals that dividend policy is unable to mediate the effects of capital structure, firm size, and profitability on stock prices.
PENGARUH KUALITAS PRODUK, HARGA DAN CTRA MEREK TERHADAP KEPUASAN PELANGGAN DENGAN LOYALITAS PELANGGAN SEBAGAI VARIABEL INTERVENING MIXUE ICE CREAM & TEA DI SITUBONDO Yusfan Ferdiansyah; Ika Wahyuni; Lita Permata Sari
Jurnal Mahasiswa Entrepreneurship (JME) Vol 4 No 7 (2025): JULI 2025
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v4i7.7107

Abstract

Currently, the growth of the Indonesian food and beverage industry is underpinned by strong competencies. The development of ice cream products in Indonesia is ongoing in many regions. This indicates a growing variety of ice cream products available, both imported and domestically produced. The development of ice cream products creates intense competition, so each new product improves its quality, potentially reducing consumer demand. The purpose of this study is to determine the effect of product quality, price and brand image on customer satisfaction with customer loyalty as an intervening variable Mixue Ice Cream & Tea in Situbondo. The sampling technique in this study used a random sampling technique, with 98 respondents. Data analysis and hypothesis testing used Structural Equation Analysis - Partial Least Square (PLS-SEM). The results of hypothesis testing using the Smart PLS 3.0 application, show that product quality has a positive and significant effect on customer loyalty, price has a positive but not significant effect on customer loyalty, brand image has a positive and significant effect on customer loyalty, product quality has a positive but not significant effect on customer satisfaction, price has a positive but not significant effect on customer satisfaction, brand image has a positive but not significant effect on customer satisfaction, customer loyalty has a positive and significant effect on customer satisfaction, product quality has a positive and significant effect on customer satisfaction through customer loyalty, price has a positive but not significant effect on customer satisfaction through customer loyalty, brand image has a positive and significant effect on customer satisfaction through customer loyalty.
PENGARUH DEBT TO ASSET RATIO, QUICK RATIO, DAN PERTUMBUHAN PENJUALAN TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL INTERVENING PADA PERUSAHAAN PROPERTY DAN REAL ESTATE YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2022-2024 Siti Fatimatul Munawaroh; Ika Wahyuni; Ida Subaida
Jurnal Mahasiswa Entrepreneurship (JME) Vol 5 No 3 (2026): MARET 2026
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v5i3.8358

Abstract

The purpose of this study is to analyze and test the effect of Debt to Asset Ratio, Quick Ratio, and Sales Growth on Company Value with Profitability as an intervening variable. The objects of this study are property and real estate companies listed on the Indonesia Stock Exchange in 2022-2024. The results of the direct effect hypothesis test using the Smart PLS 3.0 application indicate that Debt to Asset Ratio has a significant negative effect on Profitability. Quick Ratio has a positive insignificant effect on Profitability. Furthermore, Sales Growth has a negative insignificant effect on Profitability and Company Value. Debt to Asset Ratio has a positive insignificant effect on Company Value, Quick Ratio has a negative insignificant effect on Company Value. Meanwhile, Profitability has a positive insignificant effect on Company Value. The results of the indirect hypothesis test indicate that the variables Debt to Asset Ratio, Quick Ratio, and Sales Growth have a negative insignificant effect on Company Value through Profitability
PENGARUH MODAL KERJA, STRUKTUR MODAL, DAN LIKUIDITAS TERHADAP HARGA SAHAM DENGAN PROFITABILITAS SEBAGAI VARIABEL INTERVENING PADA PERUSAHAAN PERTAMBANGAN YANG TERDAFTAR DI BEI TAHUN 2022-2024 Nazilatul Rizqiyana; Ika Wahyuni; Triska Dewi Pramitasari
Jurnal Mahasiswa Entrepreneurship (JME) Vol 5 No 1 (2026): JANUARI 2026
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v5i1.8215

Abstract

This study was conducted to analyze the influence of working capital, capital structure, and liquidity on stock prices, with profitability as an intervening variable. Mining companies listed on the Indonesia Stock Exchange in 2022-2024 were the subjects of this study.The analytical method used was Partial Least Squares (PLS) using the Smart PLS 3.0 application, which includes classical assumption tests, including multicollinearity and normality tests, coefficient of determination tests, structural equation analysis (Inner Model), and research hypothesis testing. The results of the study indicate that working capital and capital structure have a positive but insignificant effect on profitability, while liquidity has a negative but insignificant effect on profitability. Furthermore, working capital, capital structure, and liquidity each have a positive but insignificant effect on stock prices. Profitability also shows a negative but insignificant effect on stock prices. The results of the indirect effect hypothesis test indicate that working capital and capital structure have a negative but insignificant effect on stock prices through profitability. Meanwhile, liquidity has a positive but insignificant effect on stock prices through profitability.
PENGARUH KEPEMIMPINAN, LINGKUNGAN KERJA DAN DISIPLIN KERJA TERHADAP KINERJA PEGAWAI BKPSDM KABUPATEN SITUBONDO DENGAN KEPUASAN KERJA SEBAGAI VARIABEL INTERVENING Ricky Hidayat; Ika Wahyuni; Minullah Minullah
Jurnal Mahasiswa Entrepreneurship (JME) Vol 4 No 9 (2025): SEPTEMBER 2025
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v4i9.7038

Abstract

State Civil Apparatus (ASN), as civil servants, carry out the state's duty to serve the public. ASN are required to be responsible and possess good attitudes and mental qualities so that development objectives can be achieved. ASN require effective human resource development to improve the quality of public service. Human resource development for ASN is realized through the implementation of a code of ethics and a code of conduct. One of the codes of ethics and a code of conduct, as stipulated in Law No. 5 of 2014 concerning State Civil Apparatus, Article 5, paragraph 2b, requires carrying out duties with care and discipline. Human Resources (HR) encompass the inherent values of each individual and their ability to contribute to society. A person's mental and physical capacity, as well as their behavior, are resources. Human actions are shaped by the environment and the people they work with, and people work because they seek satisfaction. The purpose of this study is to analyze and test the influence of leadership, work environment, and work discipline on employee performance at the Situbondo Regency Human Resources Development Agency (BKPSDM), with job satisfaction as an intervening variable. This research is quantitative. The population used in this study was 42 employees, excluding leaders. The sampling technique used was simple random sampling. Data analysis and hypothesis testing in this study used the Structural Equation Method – Partial Least Squares (PLS-SEM). The results of the direct effect hypothesis test using the Smart PLS 3.0 application indicate that leadership has a significant positive effect on job satisfaction. The work environment has a significant positive effect on job satisfaction. Work discipline has a significant positive effect on job satisfaction. Leadership has a positive but insignificant effect on performance. The work environment has a positive but insignificant effect on performance. Work discipline has a significant positive effect on performance. Job satisfaction has a significant positive effect on performance. Leadership has a significant positive effect on performance through job satisfaction. The work environment has a significant positive effect on performance through job satisfaction. Work discipline has a significant positive effect on performance through job satisfaction.
PENGARUH KOMPENSASI, BEBAN KERJA DAN BUDAYA KERJA TERHADAP KINERJA KARYAWAN NON ASN DENGAN KEPUASAN KERJA SEBAGAI VARIABEL INTERVENING DI RSUD BESUKI SITUBONDO Ahmad Zaini; Ika Wahyuni; Minullah Minullah
Jurnal Mahasiswa Entrepreneurship (JME) Vol 4 No 8 (2025): AGUSTUS 2025
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v4i8.7039

Abstract

In response to issues related to compensation and workload, RSUD Besuki Situbondo has taken the initiative to reduce these challenges by fostering a comfortable work culture and providing complete facilities. The hospital also promotes job satisfaction among employees through appreciation and support for personal and professional development. Thus, compensation, workload, work culture, job satisfaction, and employee performance are closely interconnected. This study aims to analyze and examine the influence of compensation, workload, and work culture on the performance of non-civil servant (non-ASN) employees, with job satisfaction as an intervening variable at RSUD Besuki Situbondo. This is a quantitative research study involving a population of 67 non-ASN employees. The sampling technique used was proportional stratified random sampling, applied to a population with hierarchical or layered structures. Data analysis and hypothesis testing were conducted using the Structural Equation Modeling – Partial Least Square (PLS-SEM) method. The results of direct effect hypothesis testing using Smart PLS 3.0 indicate that compensation, workload, and work culture all have a significant positive effect on job satisfaction. Additionally, compensation, workload, and work culture also significantly and positively affect employee performance. Job satisfaction itself has a significant positive impact on performance. Furthermore, the indirect effect analysis shows that compensation, workload, and work culture significantly and positively affect performance through job satisfaction.
FAKTOR-FAKTOR YANG MEMPENGARUHI STRUKTUR MODAL PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2017-2019 Nurul Aghniyak; Ika Wahyuni; Dwi Perwitasari Wiryaningtyas
Jurnal Mahasiswa Entrepreneurship (JME) Vol 5 No 1 (2026): JANUARI 2026
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v5i1.8129

Abstract

Increasing competition in the era of globalization requires companies to adapt and effectively manage critical functions to maintain their competitive advantage. This study aims to analyze the factors influencing capital structure, both partially and simultaneously, and to identify the most dominant variables in manufacturing companies listed on the Indonesia Stock Exchange. The variables used include asset structure, profitability, company size, liquidity, and growth. The research method employed classical assumption tests, multiple linear regression, t-tests, F-tests, dominance tests, and coefficients of determination. The regression results show the following equation: Y = 255.349 + 0.176X1 – 0.513X2 – 0.057X3 – 0.160X4 + 0.638X5 + e. Based on the t-test, asset structure (calculated t = 0.375 < 2.02269), profitability (calculated t = -1.757 > -2.02269), and firm size (calculated t = -1.520 > -2.02269) had no partial effect on capital structure. Meanwhile, liquidity (calculated t = -4.166 < -2.02269) and growth (calculated t = 2.646 > 2.02269) had a significant partial effect on capital structure. The F-test results showed F-calculated = 7.434 > F-table = 2.45, indicating that all independent variables simultaneously had a significant effect on capital structure. Based on the dominance test, liquidity (X4) had the greatest influence, with a value of -4.166, compared to the other variables. The coefficient of determination (R²) of 0.488 indicates that 48.8% of the variation in capital structure can be explained by independent variables, while the remaining 51.2% is influenced by other factors outside this study.
PENGARUH PROFITABILITY, CAPITAL STRUCTURE DAN FIRM SIZE TERHADAP FIRM VALUE DENGAN INVESTMENT OPPORTUNITY SET SEBAGAI VARIABEL INTERVENING PADA PERUSAHAAN LQ45 YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2022-2024 Alfa Ayu Miftakhul Jannah; Ika Wahyuni; Lita Permata Sari
Jurnal Mahasiswa Entrepreneurship (JME) Vol 5 No 2 (2026): FEBRUARI
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v5i2.8193

Abstract

The capital market serves as a funding source for companies and an investment medium for the public in financial instruments. The existence of the capital market aims to provide long-term capital sources for the business world while creating income distribution through public stock ownership. This study aims to analyze and test the influence of profitability, capital structure, and firm size on firm value with the investment opportunity set as an intervening variable in LQ45 index companies listed on the Indonesia Stock Exchange for the 2022-2024 period. This research is a quantitative study with a causal approach aimed at explaining the relationships between variables. The population in this study consists of companies listed in the LQ45 index during the observation period. The sampling technique was determined using a purposive sampling method. Data analysis and hypothesis testing in this study utilize Structural Equation Modeling – Partial Least Square (PLS-SEM). The results of the direct effect hypothesis testing using the SmartPLS 3.0 application show that capital structure and firm size have a significant effect on firm value. Profitability and the investment opportunity set were found to have no significant effect on firm value. Profitability, capital structure, and firm size also do not significantly affect the investment opportunity set. The results of the indirect effect test indicate that the investment opportunity set is unable to mediate the influence of profitability, capital structure, or firm size on firm value.