Article Per Year (5 Year)
p-Index From 2021 - 2026
0.444
P-Index
This Author published in this journals
All Journal Performance Jurnal Manajemen Universitas Bung Hatta
Mohammad Fathon Pramuka
Universitas Jenderal Soedirman
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education

Published : 2 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 2 Documents
Search

 1 
Ownership Structure on Companies Financial Leverage Decision: Evidence from Indonesia Mohammad Fathon Pramuka; Toshihiko Sasaki
Performance: Jurnal Personalia, Financial, Operasional, Marketing dan Sistem Informasi Vol 28 No 2 (2021): Performance
Publisher : Faculty of Economics and Business Universitas Jenderal Soedirman

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20884/1.jp.2021.28.02.5184

Abstract

The ownership structure in a firm is considered as crucial instrument for alleviating agency problems (Sun, Ding, Guo, and Li, 2017). The wider the ownership, the longer decision might be taken. The purposes of this study are to analyze the effect of ownership structure, namely managerial ownership and institutional ownership, stock market liquidity, and profitability on financial leverage. This research was conducted for 4 years from the period of 2014 to 2018. This study used 14 companies as samples. Based on the results of research and data analysis it is shown that: (1) Managerial Share Ownership has a negative effect on financial leverage, (2) Profitability (MSO) has a negative effect on financial leverage, (3) Share Turnover (MSO) has no effect on financial leverage, (4) IO has a negative effect on financial leverage, (5) Profitability (IO) has a positive effect on financial leverage, (6) Share Turnover (IO) has no effect on financial leverage. The implications of the results above are as follows: theoretically, this research provides insight into the implementation of agency theory in funding decisions. Because this research was carried out in manufacturing companies listed in LQ45, highlight the generalization of theories in all contexts, especially in developing countries such as Indonesia. At a practical level, this result can be used by investors, fund managers as a reference in making funding decisions, whether to prioritize internal or external funding.
Beyond Access: Why Financing and Leadership Alone Don't Sustain SME Performance Without FinTech Mohammad Fathon Pramuka; Dian Purnomo Jati
JURNAL MANAJEMEN UNIVERSITAS BUNG HATTA Vol 21 No 2 (2026): Jurnal Manajemen Universitas Bung Hatta
Publisher : Management Department, Faculty of Economics and Business, Universitas Bung Hatta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37301/jmubh.v21i2.30069

Abstract

This study examines the effect of Access to Finance (AF) and Sustainable Innovative Leadership (SIL) on Financial Sustainable Performance (FSP) through FinTech Adoption (FTA) as a mediating variable, using micro, small, and medium enterprises (SMEs) in the food and beverage sector in Banyumas Regency, Indonesia, as the research setting. Although Access to Finance and innovative leadership are widely regarded as strategic resources that support firm performance, prior studies report inconsistent findings, suggesting that a transformation mechanism is required to explain how these resources are converted into sustained financial outcomes. Addressing this gap, the study positions FinTech Adoption as a bridging mechanism grounded in Dynamic Capabilities Theory, Resource-Based View, Ecological Modernization Theory, and Financial Inclusion Theory. Data were collected from 300 SME owners/managers through a structured questionnaire, of which 200 respondents who had operated their business for at least two years and used FinTech services for at least six months were retained for analysis through purposive sampling. Data were analyzed using Partial Least Squares Structural Equation Modelling (PLS-SEM) with SmartPLS, including bootstrapping with 5,000 resamples. The results show that Access to Finance and Sustainable Innovative Leadership have no significant direct effect on Financial Sustainable Performance, while both variables significantly and positively affect FinTech Adoption, and FinTech Adoption significantly and positively affects Financial Sustainable Performance. Mediation analysis further confirms that FinTech Adoption fully mediates the effect of both Access to Finance and Sustainable Innovative Leadership on Financial Sustainable Performance. These findings imply that financing and leadership resources translate into sustainable financial performance primarily through active engagement with financial technology rather than through direct pathways.
Co-Authors Dian Purnomo Jati Toshihiko Sasaki