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All Journal Jurnal Bina Akuntansi Devotion: Journal of Research and Community Service Golden Ratio of Finance Management
Henny Wirianata
Universitas Tarumanagara
Economics, Econometrics & Finance

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Faktor-Faktor Yang Mempengaruhi Minat Mahasiswa Akuntansi Mengikuti Uskad Liana Susanto; Yanti Yanti; Viriany Viriany; Henny Wirianata
Jurnal Bina Akuntansi Vol 7 No 2 (2020): Jurnal Bina Akuntansi Vol.7 No.2 2020
Publisher : Sekolah Tinggi Ilmu Ekonomi Wiyatamandala

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52859/jba.v7i2.80

Abstract

Abstract: The purpose of this research was to obtained empirical evidence about the influence of subjective norms, behavioral control, and expectations for the results of the interest of accounting students to take USKAD. Samples were taken by purposive sampling technique. Data were obtained through questionnaires. Respondents in this research were 2015 and 2016 Faculty of Economics Tarumanagara University accounting students. Data from the questionnaires were processed using the Smart-PLS program version 3.2.8. The results of the research showed subjective norms, behavioral control, and expectations for the results have significant influence towards the interest of accounting students to take USKAD.
Commodity Price Returns and Energy Sector Stock Returns: Evidence from Indonesia Wiwin Eni Sulistiandari; Henny Wirianata
Golden Ratio of Finance Management Vol. 6 No. 2 (2026): April - September
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v6i2.2358

Abstract

Global commodity price fluctuations have become an important factor influencing the performance of the energy sector in capital markets. This study aims to examine the effects of world oil price returns, world gold price returns, and world coal price returns on energy sector stock returns on the Indonesia Stock Exchange (IDX) during the 2021–2025 period. The study employs secondary daily data from 27 main board energy sector companies listed on the IDX, selected using a purposive sampling method. The data were analyzed using Ordinary Least Squares (OLS), while Vector Autoregression (VAR) and the Granger Causality Test were employed as complementary analytical methods. The results indicate that world oil price returns and world coal price returns have positive and significant effects on energy sector stock returns, whereas world gold price returns do not have a significant effect. These findings suggest that global energy commodities, particularly oil and coal, play a more influential role than gold in explaining energy sector stock returns in Indonesia. The study provides practical implications for investors by highlighting the importance of monitoring global commodity price movements in investment decision-making. In addition, it contributes empirical evidence to the growing literature on the relationship between commodity price returns and energy sector stock returns in emerging markets.
Financial Ratios as Predictors of Financial Distress Risk for Transportation, Logistics, and Infrastructure Companies on the Indonesia Stock Exchange for the 2022–2024 Period M. Rendy Al-Fath Andika Pulun; Henny Wirianata
Devotion : Journal of Research and Community Service Vol. 7 No. 8 (2026): Devotion: Journal of Community Research
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/devotion.v7i8.25743

Abstract

This study aimed to examine and analyze the effects of liquidity, leverage, and profitability on financial distress risk among companies in the transportation, logistics, and infrastructure sectors listed on the Indonesia Stock Exchange during the 2022–2024 period. The study used secondary data obtained from annual financial reports published on the official website of the Indonesia Stock Exchange (www.idx.co.id). The sample was selected using a purposive sampling technique, resulting in a final sample of 105 observations from 63 companies over the three-year observation period. The data were analyzed using Statistical Package for the Social Sciences (SPSS) version 26 through multiple linear regression analysis. Financial distress risk was measured using the Modified Altman Z”-Score model, while liquidity was proxied by the Current Ratio (CR), leverage was proxied by the Debt-to-Equity Ratio (DER), and profitability was proxied by Return on Assets (ROA). The results indicate that liquidity had a positive and significant effect on financial distress risk, leverage had a negative and significant effect on financial distress risk, and profitability had a positive and significant effect on financial distress risk. These findings provide important implications that liquidity, leverage, and profitability ratios can serve as indicators for the early detection of financial distress risk among companies in the transportation, logistics, and infrastructure sectors. For companies, these results emphasize the importance of maintaining healthy working capital, managing debt structures effectively, and improving operational profitability to avoid financial distress conditions. For investors and creditors, these three financial ratios, together with the Modified Altman Z”-Score model, can be utilized as an early warning system to support investment and credit decision-making.
Co-Authors Jeremy, Viriany Liana Susanto M. Rendy Al-Fath Andika Pulun Wiwin Eni Sulistiandari Yanti Yanti