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Journal : META - JOURNAL

Fluctuations on Cash Flow Statements of Public Companies in Indonesia. Astuty, Pudji; Priadana, Sidik; Estiningsih, Wening; Yuniarso, Yudi Budi
Maksimal Jurnal : Jurnal Ilmiah Bidang Sosial, Ekonomi, Budaya, Teknologi, Dan Pendidikan Vol 3 No 2 (2025): December
Publisher : Abadi Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59971/meta-journal.v3i2.381

Abstract

This study aims to examine the effect of macroeconomic fluctuations on the cash flow statements of publicly listed companies in Indonesia. Using a panel data approach covering five public companies (AALI, UNVR, TLKM, ASII, and ICBP) over the period 2019–2023, the analysis employs the Common Effect Model (CEM). The independent variables include Gross Domestic Product (GDP), inflation rate, interest rate, and exchange rate, while the dependent variable is operating cash flow (CFO). Prior to estimation, classical assumption tests for multicollinearity and heteroskedasticity were conducted, confirming the validity and reliability of the model. The results indicate that GDP has a positive and significant impact on CFO, whereas inflation, interest rate, and exchange rate exert negative and significant effects. These findings suggest that macroeconomic conditions directly influence corporate liquidity and cash management. Companies need to implement proactive cash management strategies and hedging policies to mitigate risks associated with macroeconomic volatility. Furthermore, regulators should maintain economic stability to support corporate financial resilience. This study contributes to the empirical understanding of how macroeconomic variables affect corporate cash flows in emerging markets, particularly in Indonesia.
The Relationship between Income Inequality and Poverty in Indonesia: A Sustainable Macroeconomic Analysis (Empirical Study of Java Island 2018–2022) Astuty, Pudji; Priadana, Sidik; Saripah, Saripah; Bakti, Ilham Teruna
Maksimal Jurnal : Jurnal Ilmiah Bidang Sosial, Ekonomi, Budaya, Teknologi, Dan Pendidikan Vol 3 No 2 (2025): December
Publisher : Abadi Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59971/meta-journal.v3i2.382

Abstract

This study aims to analyze the influence of income inequality, economic growth, and government expenditure on poverty levels in five provinces across Java Island during the period 2018–2022. A quantitative research approach with a panel data analysis method was employed, using the Fixed Effect Model (FEM) estimated through EViews 12 software. The study utilized secondary data obtained from the Central Bureau of Statistics (BPS) and the Ministry of Finance of the Republic of Indonesia. The results reveal that, partially, income inequality has a negative and significant effect on poverty, indicating that reducing inequality contributes to poverty alleviation. Conversely, economic growth shows a positive and significant relationship with poverty, suggesting that economic growth in Java has not been inclusive (non-pro-poor growth). Meanwhile, government expenditure has a negative and significant impact on poverty, demonstrating that increasing public spending—especially in social and infrastructure sectors—effectively reduces poverty when allocated efficiently. Simultaneously, all independent variables significantly affect poverty, with a Prob(F-statistic) of 0.000004 < 0.05. The coefficient of determination (R²) of 0.7419 indicates that 74.19% of poverty variation is explained by the model. The findings emphasize the importance of inclusive and equitable economic policies to support the achievement of the Sustainable Development Goals (SDGs), particularly Goal 1 (No Poverty) and Goal 10 (Reduced Inequalities).
Co-Authors *Wala Erpurini A, Acuviarta Achmad Rozi Ading Rahman Sukmara Afandi, Azhar Agustina Mogi Ahmad Badawi Ahmad Nurhadi Aidil Amin Effendy Akbar, Irfan Rizka Anwar, Asep Apriansyah, Muger Asep Anwar Asep Muhammad Lutfi Awal Purnomosidi Azhar Affandi Azhar Affandi Bakti, Ilham Teruna Basuki Rahmat Masdi Siduppa Bayu Indra Setia Denny Aditya Dwiwarman Denok Sunarsi Dian Rostikawati Didik Setiyadi Eddy Jusuf Eddy Yusuf, Eddy Effendi Guntur Ellen Rusliati Erlangga, Heri Erpurini, *Wala Erpurini, Wala Erwin Yulianto Ester Manik Estiningsih, Wening Eti Ariyanti Farida Agustin, Farida FATKHURAHMAN FATKHURAHMAN, FATKHURAHMAN Fatma Lestari Finny Redjeki Ganar, Yulian Bayu Gojali Supiandi Gugum Mukdas Sudarjah Haris Fauzi Hartuti, Elizabeth Tika Kristina Hasan, Azasi Helmi, M. Nurman Heru Setiawan Hindriari, Reni Horas Djulius Imam Santoso Iman Sudirman Iman Sudirman Ina Primiana Sagir Indah Megahwati Indah, Dewi Yuliati Irmal, Irmal Iryadana, Mohamad Razab Ivan Yulianto Iwan Riswandi Iwan Ruswandi Jaja Suteja Jamaludin, Maun Jasmani Jasmani Jhoni Maslan Julius, Horas Khoirul Umam Kholili, Irfan Komariyah, Iis Kristianti, Lily Setyawati Laila Irawati Lizio Marcel de Araujo Luluh Abdilah Kurniawan Machfud Sidik, Machfud MADUNINGTIAS, LUCIA Mahnun Mas’adi Maludin Panjaitan Meirinaldi Roesli Mia Nursanty Mia Nursanty Moch Fachri Supriyadi Mohamad Duddy Dinantara Mohammad Nugraha, Nugi Muhammad Thoriq Al Zyad Nila Nurochani Novita Novita Nugi Mohammad Nugraha Nuriawati, Umi Nurjaya Nurjaya Nursanty, Mia Nursanty, Mia Oktri Mohammad Firdaus Pratama, Reza Anugrah Pudji Astuty Pudji Astuty, Pudji Purnomosidi, Awal Rahadyan Tajuddien Reza Anugrah Pratama Ruswandi, Iwan Saripah Saripah, Saripah Sarman, Rohmat Senen Machmud Slamet Aji Winoto Subadrianto, Al Sufi Subiyantoro, Heru Sudarso, Aden Prawiro Sudirman, Imam Sudirman, M. Iman Sunarsi, Denok Supriyadi Supriyadi Surapranata, M. Dzaky F. Suriyanti Suriyanti Sutarman Sutarman Suyatin Suyatin Tri Juniarti, Atty Triyadi Triyadi Umi Nariawati Umi Narimawati Umi Narimawati Umi Narimawati Undang Juju Vip Paramarta Wahyitno Wahyitno Wahyu Nurul Faroh Widhi Wicaksono Widodo, Adji Yuniarso, Yudi Budi