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The Effect of Investment Decisions, Funding Decisions, Operational Decisions on Value of the Firm through Financial Distress as Intervening and Good Corporate Governance (GCG) as Moderating Rachmadani, Adelia Putri; Ratnawati, Tri; Brahmayanti, Ida Ayu Sri
International Journal of Economics (IJEC) Vol. 3 No. 1 (2024): January-June
Publisher : PT Inovasi Pratama Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55299/ijec.v3i1.852

Abstract

This research focuses on companies engaged in manufacturing because manufacturing companies are one of the important things for economic growth in Indonesia. Indonesian manufacturing companies are currently not diversified and only export relatively few types of products. This study aims to prove and analyze the relationship between investment decisions, funding decisions, operational decisions, financial distress, GCG on firm value. The sample in this study namelya manufacturing company engaged in the industrial sector listed on the Indonesia Stock Exchange (IDX) with a financial reporting period of 3 years, period 2019 to 2021. Tests were carried out using SmartPLS with an analysis of the outer model test and the inner model test. The research results show that operational decisions have a significant effect on financial distress, operational decisions have a significant effect on firm value andGood Corporate Governance (GCG)on firm value has a significant effect. The relationship of other variables shows no significant results on financial distress and firm value.
Analysis of Macroeconomic Influence, Investment Decisions, and Funding Decisions on Profitability, Unsystematic Risk, and Sharia Stock Return (Study of 70 JII Shares Listed on the IDX) Pradhani, Tri Buana Wira; Ratnawati, Tri; Brahmayanti, I.A. Sri
International Journal of Economics (IJEC) Vol. 3 No. 2 (2024): July-December
Publisher : PT Inovasi Pratama Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55299/ijec.v3i2.936

Abstract

This research aims to examine and analyze the influence of macroeconomics, investment decisions and funding decisions on profitability, unsystematic risk and returns on JII 70 shares listed on the Indonesia Stock Exchange from 2019 to 2023. This research uses a quantitative approach and this type of research This is explanatory causal research which will explain the cause-and-effect relationships between research variables. The population used in this research is JII 70 shares listed on the Indonesia Stock Exchange from 2019 to 2023. The sampling technique in this research uses a purposive sampling technique, with the sample used being 20 companies with listed JII 70 indexed shares. on the Indonesian Stock Exchange from 2019 to 2023. The data source in this research is secondary data obtained from the official publication website of Bank Indonesia, the Central Statistics Agency, and the Indonesian Stock Exchange. Hypothesis testing was carried out by testing the SEM-PLS structural model using the Smart-PLS4 application. Based on the results of data testing, a conclusion regarding hypothesis testing is obtained, namely, macroeconomics does not have a significant effect on profitability, unsystematic risk and stock returns. Investment decisions have a positive and significant effect on profitability, unsystematic risk and stock returns. Funding decisions have a positive and significant effect on profitability, but have a negative and significant effect on unsystematic risk and stock returns. Profitability has a positive and significant effect on stock returns, and unsystematic risk has a negative and significant effect on stock returns.
The Effect of Liquidity, Activitiy and Capital Structure on Profitability, Financial Distress and Firm Value in Building Construction and Property and Real Estate Companies Listed on The Indonesia Stock Exchange Kurniawati, Dinda Dwi; Ratnawati, Tri; Pristiana, Ulfi
International Journal of Economics (IJEC) Vol. 3 No. 2 (2024): July-December
Publisher : PT Inovasi Pratama Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55299/ijec.v3i2.940

Abstract

This study aims to analyze the effect of liquidity, activity and capital structure on profitability, financial distress and firm value in building construction and property and real estate companies listed on the Indonesia stock exchange. The population in the study were building construction and property and real estate companies listed on the Indonesia stock exchange in 2018-2022. 17 companies were selected as samples using saturated samples. Hypothesis testing in this study was carried out with the smrart-PLS application. Based on the analysis of 11 hypotheses, it was found that liquidity has no significant effect on profitability, financial distress and firm value. Activity has a significant effect on financial distress and firm value but activity has no significant effect on profitability. Capital structure has a significant effect on financial distress and firm value but capital structure has no significant effect on profitability. Profitability and financial distress have no significant effect on firm value. Liquidity, activity and capital structure have no significant effect on firm value through profitability as an intervening variable. Liquidity, activity and capital structure have no significant effect on firm value through financial distress as an intervening variable.
Analysis of the Effect of Revenue Growth, Cost Growth and Economic Value Added on the Financial Performance of Tritya Eye Clinic With Operation Cash Flow as an Intervening Variable Sumirat, Esti; Ratnawati, Tri; Pristiana, Ulfi
International Journal of Economics (IJEC) Vol. 3 No. 2 (2024): July-December
Publisher : PT Inovasi Pratama Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55299/ijec.v3i2.1205

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The purpose of this study was to analyze the effect of revenue growth, cost growth and economic value added on the financial performance of the Tritya Eye Clinic with operational cash flow as an intervening variable. This study uses a quantitative method with secondary data sources. The population of the study was all financial reports of the Tritya Eye Clinic for the period 2019 to 2023. The data analysis method used SEM-PLS analysis. The results of the study showed that partially the variables of revenue growth, cost growth and economic value added had no significant effect on Operation Cash Flow, the variables of revenue growth and cost growth had no significant effect on financial performance but the EVA variable had a significant effect on financial performance. While the variables of revenue growth, cost growth and economic value added had no significant effect on financial performance mediated by operational cash flow at the Tritya Eye Clinic in Surabaya
Literature Review: Formulation of Work-Life Balance Against Environmental Dynamics Putra, Surya Jaya Purnama; Ratnawati, Tri; Santi, Dyan Evita
International Journal of Research in Counseling Vol. 2 No. 2 (2023)
Publisher : Yayasan Minang Darussalam

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55849/ijrc.v2i2.50

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The purpose of study This is For discuss possible strategies and formulations help individual reach balance life Work in face change sustainable environment changed . Research methods This use studies literature For analyze work-life balance based on study previously. Several strategies and formulations For increase balance life Work including flexibility time and place work , reduce demands work, use appropriate technology, develop habit life healthy, and get support from family and friends . In facing the dynamics change environmental , factors like technolog, demands work, and health must noticed For reach balance life healthy work. With apply appropriate strategies and formulations , individually can reach healthy balance between work and life personal.
Pengaruh Financial Sustainability, Investment Decision, Financial Distress Dan Audit Client Tenure Terhadap Opini Audit Dengan Good Corporate Governance Sebagai Variabel Mediasi (Studi Empiris Pada Perusahaan Manufaktur yang terdaftar dalam Bursa Efek I Sholiqah, Suci Nurlayli Alimatu; Ratnawati, Tri
Innovative: Journal Of Social Science Research Vol. 4 No. 4 (2024): Innovative: Journal Of Social Science Research
Publisher : Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/innovative.v4i4.14820

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Riset ini bermanfaat guna mengukur dan menganalisis dampak financial sustainability, investment decision, financial distress, audit tenure dan good corporate governance pada industri manufaktur yang tercatat pada Pasar Saham Indonesia tahun 2019-2023. Dalam riset ini memakai cara kuantitatif. Variabel yang dipakai dalam riset ini yaitu financial sustainability (X1), investment decision (X2), financial distress (X3), audit tenure (X4), good corporate governance (Z) dan opini audit (Y). populasi riset ini ada 178 industri manufaktur yang tercatat pada Pasar Saham Indonesia tahun 2019-2023. Riset ini memakai Partial Least Square (SmartPLS). Hasil riset memperlihatkan bahwa financial sustainability berdampak negative dan tidak penting untuk GCG, financial sustainability berdampak positif dan penting untuk opini audit. Investment decision berpengaruh positif namun tidak penting untuk GCG, investment decision berdampak positif namun tidak penting untuk opini audit. Financial distress berdampak positif dan penting untuk GCG, financial distress berdampak positif dan penting untuk opini audit. Audit tenure berdampak positif dan penting untuk GCG, audit tenure berpengaruh negative namun penting untuk opini audit. GCG berdampak positif dan penting untuk opini audit. Good corporate governance berdampak sebagai variabel penengah bagi financial distress untuk opini audit dan audit tenure untuk opini audit. Good corporate governance tidak memiliki dampak sebagai variabel penengah bagi financial sustainability untuk opini audit dan investment decision terhadap opini audit.
Book Review: Crouch, Harold. (2010). Political Reform in Indonesia after Soeharto. Singapore: Institute of Southeast Asian Studies. 390 pp (including bibliography and index): Ratnawati, Tri
Journal of Indonesian Social Sciences and Humanities Vol. 3 (2010): Journal of Indonesian Social Sciences and Humanities
Publisher : RMPI-BRIN

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

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Meta-Analysis: Determining Hedging on Foreign Exchange Pradhani, Tri Buana Wira; Sariah, Sariah; Hwihanus, Hwihanus; Ratnawati, Tri
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 7 No 3 (2024): Sharia Economics
Publisher : Sharia Economics Department Universitas KH. Abdul Chalim, Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v7i3.5347

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Hedging is an action taken by investors, both individuals and governments and companies to protect value due to the risk of price changes. Investors and companies must have good risk management. They must pay attention to, identify, mitigate, and control risks, to survive amidst risk uncertainty. Hedging aims to deal with risks caused by changes in interest rates, exchange rates, and prices of goods, especially when using foreign exchange. This research aims to discuss further the determination of hedging on foreign exchange, using the meta-analysis method. The data source used is secondary data, namely data obtained from previous research. The results show that almost all companies hedge to minimize risk, although there is a multinational company that does not do so.
Beyond the Liquidity Illusion: Evaluating the Efficiency of Indonesia’s Himbara Banks Pamungkas, Binar Dwiyanto; Ratnawati, Tri; Khairunnisah, Noni Antika
Business Management Vol 4, No 4 (2025): Business Management November
Publisher : Lembaga Penelitian dan Pendidikan (LPP) Mandala

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58258/bisnis.v4i4.9744

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Analyze the efficiency levels of Himbara banks after receiving Rp200 trillion in funds from the Ministry of Finance. Compare the efficiency levels between Himbara banks in the periods before and after the fund placement policy. Identify internal factors that influence the efficiency of government fund management at Himbara banks. This study uses a quantitative approach with the non-parametric Data Envelopment Analysis (DEA) method. This approach was chosen because it can measure the relative efficiency between decision-making units (DMUs) without requiring specific production function assumptions (Charnes, Cooper, & Rhodes, 1978). DEA allows researchers to evaluate the ability of Himbara banks to efficiently convert inputs (resources) into outputs (intermediation results). The analysis was conducted for the period 2024–2025, covering conditions before and after the placement of IDR 200 trillion in funds from the Ministry of Finance. To analyze factors influencing efficiency, the Tobit regression model was used. Data Envelopment Analysis (DEA) results show that the Rp200 trillion injection of funds was only effective in increasing efficiency at already productive banks (BRI, Mandiri, and BTN), while BNI still exhibited inefficiency due to its inability to convert additional funds into proportional credit growth and interest income. This indicates the need for improvements in credit distribution strategies, operational cost management, and risk management so that the injection of public funds truly has an optimal impact on efficiency and economic growth. Tobit Regression results indicate that bank efficiency in Indonesia tends to increase if banks have strong capital adequacy, good asset quality, and optimal intermediation capabilities. Conversely, increasing NPLs and excessive asset expansion can be factors that reduce efficiency. Therefore, future banking policy strategies need to focus on improving asset quality, cost efficiency, and implementing effective governance across all bank scales
Pengaruh Gender Diversity Komite Audit, Audit Switching, dan Asersi Manajemen terhadap Kualitas Audit dengan Reputasi KAP sebagai Variabel Moderasi pada Perusahaan Sektor Pertambangan dan Energi yang Terdaftar di Bei Periode Tahun 2022-2024 Nanlohy, Yehezkiel Benaya; Ratnawati, Tri
RIGGS: Journal of Artificial Intelligence and Digital Business Vol. 4 No. 4 (2026): November - January
Publisher : Prodi Bisnis Digital Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/riggs.v4i4.4107

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Sektor pertambangan dan energi merupakan salah satu sektor dengan tingkat risiko operasional dan pelaporan keuangan yang tinggi, sehingga memerlukan mekanisme audit yang mampu menjamin transparansi serta akuntabilitas perusahaan. Kompleksitas struktur transaksi, tingginya nilai aset, dan eksposur terhadap fluktuasi harga komoditas menuntut adanya audit berkualitas yang tidak hanya bergantung pada kemampuan auditor eksternal, tetapi juga pada efektivitas tata kelola internal perusahaan. Penelitian ini bertujuan menganalisis pengaruh keberagaman gender dalam komite audit, audit switching, dan asersi manajemen terhadap kualitas audit, serta menilai peran reputasi Kantor Akuntan Publik (KAP) sebagai variabel pemoderasi. Dengan menggunakan pendekatan kuantitatif melalui metode Partial Least Square (PLS), penelitian melibatkan 40 perusahaan pertambangan dan energi yang tercatat di Bursa Efek Indonesia periode 2022–2024. Hasil penelitian menunjukkan bahwa keberagaman gender dalam komite audit dan asersi manajemen berpengaruh positif dan signifikan terhadap kualitas audit, sedangkan audit switching tidak memberikan pengaruh signifikan. Lebih jauh, reputasi KAP terbukti memoderasi hubungan antarvariabel dengan memperkuat pengaruh positif gender diversity dan asersi manajemen terhadap kualitas audit, serta memperkuat arah negatif audit switching. Temuan ini mengindikasikan bahwa kualitas audit pada sektor berisiko tinggi dipengaruhi oleh sinergi antara mekanisme tata kelola internal dan kredibilitas auditor eksternal. Implikasi penelitian menegaskan pentingnya komposisi komite audit yang beragam dan seleksi KAP bereputasi sebagai strategi untuk meningkatkan kualitas pengawasan dan keandalan laporan keuangan.
Co-Authors - Hwihanus Achmad Maqsudi, Achmad Adam Maulana Adiati Trihastuti, Adiati Agtovia Frimayasa, Agtovia Aldi, Muhammad Fauzan Amanda, Dian Amelia Kusniawati, Amelia Amiartuti Kusmaningtyas Anika, Refi Tri Aprilianto, Deni Binar Dwiyanto Pamungkas, Binar Dwiyanto Boquifai, Petronela M. Brahmayanti, I.A. Sri brahmayanti, Ida Ayu Sri Dantje Salean, Dantje Ervina Ervina Fitriyah, Rif'atul Gede, I Komang Hakim Muttaqim Hamzah, A. Hadian Pratama Hariyani, Diyah Santi Henny Mahmudah, Henny Hwihanus I Nyoman Lokajaya, I Nyoman Ida Bagus Cempena, Ida Bagus Ikbar Luqyana Indrawati Yuhertiana Islamiyah, Fitria Ayu kartika, ika saridewi Kartikasari, Linda Khairunnisah, Noni Antika Kurniawan, Sindu Bagas Kurniawati, Dinda Dwi Listyaningsih, Emilia Desi Lokajaya, Nyoman Magalhaes, Cancio Andika Irawan Maia, Fonseca De Jesus malik, tajuddin Mandag, Herny Ria Mardiono, Viona Eka Putri Marwanto, Ontot Masfa’ani, Rikhza Mediana, Anastasya Mechta Melania, Melania Nanlohy, Yehezkiel Benaya Nekky Rahmiyati Nugroho, Mulyanto Nurhalyza, Tasya Nurhasanah Nurhasanah Nuryani, Anik Oktaviyanto, Nanda Pardede, Esther Tioma Nauly Pradhani, Tri Buana Wira Pribadi, Fancholik Joko Putra, Surya Jaya Purnama Putu Suardana, I Gede Rachmadani, Adelia Putri Rahayu, Cindy Septiana rahmawati, Debby Yusriliana Rodhiyah Rodhiyah Sahrul, M Santi, Dyan Evita Sariah Sariah Sawal Sartono, Sawal Septian, Michael Revelin Ervan Setyono, Vicky Indarto Sholiqah, Suci Nurlayli Alimatu Siti Mujanah Sitohang, Arga Christian Sobri, Mohamad Aulia soebrati, ni wayan Sri Andayani Sri Andayani Sri Hadijono, Sri Sri Harijati, Sri Sulistyo Sulistyo Sumirat, Esti Sutirman Sutirman tandi, asrin Ulfi Pristiana Warella, Veren Wendy Widi Hidayat Widodo Sarjana AS, Widodo Wijaya, Andjar Eka Ximenes, Elias