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Influence Of Cash Flow And Working Capital On Profitability And Stock Prices In Consumer Goods Industry Nunur Fitri Pratiwi; Dayan Hakim Natigor Sipahutar; Yoyo Sudaryo; Nunung Ayu Sofiati
Eduvest - Journal of Universal Studies Vol. 4 No. 8 (2024): Journal Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v4i8.1766

Abstract

In the era of globalization and increasingly intense business competition, companies in various industrial sectors are required to manage their resources efficiently to achieve desired financial goals. The objective of a company is to maximize profits for its survival. Sales are one of the main operational activities of a company and a primary source of revenue. The fluctuating nature of stock prices requires an investor to understand the factors influencing their changes. Factors affecting stock price changes include financial statements and financial ratios.This study uses secondary data, namely the financial statements of Consumer Goods Industry companies in the Food and Beverages sub-sector listed on the Indonesia Stock Exchange (IDX) from 2020-2023. The sampling technique used is purposive sampling, resulting in a total sample of 14 companies. The data analysis technique used in this study is multiple linear regression analysis, preceded by classical assumption tests including normality test, multicollinearity test, heteroscedasticity test, and autocorrelation test. The results of the model fit test show that cash flow and working capital are suitable as explanatory variables for profitability.The hypothesis testing results indicate that cash flow has a positive but not significant effect on profitability, meaning that if cash flow increases, profitability tends to increase. Working capital has a negative but not significant effect on profitability, meaning that if working capital decreases, profitability will increase. The market stock price significantly moderates the relationship between cash flow and profitability, but it does not significantly moderate the relationship between working capital and profitability.
Event Study Of The New Economy Board On Abnormal Return And Trading Volume Activity Of Company Shares In The Indonesia Stock Exchange Agung Setiawan; Yoyo Sudaryo; Dayan Hakim Natigor Sipahutar; Nunung Ayu Sofiati
Eduvest - Journal of Universal Studies Vol. 4 No. 8 (2024): Journal Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v4i8.1767

Abstract

The research window for this study is 11 days, which includes 5 days prior to the event, 5 days after the incident, and an estimated 14 days after the event. The type of research in this study is an event study. In this case, the independent variable (variable X) is the event of launching the New Board Economic whereas the dependent variables (variable Y) are abnormal return and trading volume activity. The research sample consists of companies listed on the new economic listing board. The companies included in the sample are GOTO, BUKA, and BELI. Hypothesis testing is done using One Sample T-Test and Paired Sample T-Test. The research results show that the significance value of abnormal return on T-5 is <0.05, whereas for other periods it is >0.05. Similarly, all periods of trading volume activity show values >0.05. This indicates that there is a significant abnormal return on T-5, or 5 days before the event of the launch of the New Economic Board. Meanwhile, in other periods, there is no significant abnormal return, and none of the periods show significant trading volume activity. In the difference test, the Sig. (2-tailed) values for both abnormal return and trading volume activity are >0.05, indicating no difference in abnormal return before and after the launch of the new economic board, as well as no difference in trading volume activity.
Analysis Of Cash Ratio (CR), Debt To Equity Ratio (DER), And Return On Equity (ROE) On Ecomonic Value Added (EVA) In Digital Banks Sevina Hanisa Anindya; Yoyo Sudaryo; Dayan Hakim Natigor Sipahutar; Nunung Ayu Sofiati; Gurawan Dayona Ismail
Eduvest - Journal of Universal Studies Vol. 4 No. 8 (2024): Journal Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v4i8.1769

Abstract

This study evaluates the performance of digital banks in Indonesia during 2020-2023 as a real form of digitalization, focusing on the effect of Cash Ratio, Debt to Equity Ratio, and Return on Equity on Economic Value Added (EVA) in digital banks. The research method used is quantitative method with descriptive and verification approaches. The data source used is secondary data with purposive sampling and the companies selected from the criteria are 7 digital bank companies for 4 periods, so that the sample used in this study is 28 samples. The data used in this study are secondary data in the form of annual reports going public on the bank company website. The analysis technique used in this research is regression with panel data using the Eviews program. The results of this study indicate that the significance value of the cash ratio t test T count -0.910149 < T table 2.05553, and a sig value of 0.3718> 0.05 means that the Cash Ratio has no effect on Economic Value Added in 7 digital bank companies. The significance value of the Debt to Equity Ratio T test shows the value of T count -2.272184> T table 2.05553, and the sig value of 0.0323 <0.05. The significance value of the Return on Equity T test shows the value of T count -0.608342 < T table 2.05553, and the sig value of 0.35487> from 0.05 means that Return on Equity has no effect on Economic Value Added in 7 digital bank companies in Indonesia.
Analysis of Current Ratio (CR), Debt To Equity Ratio (DER), Total Asset Turnover (TATO), Return On Assets on Share Prices in Mining Companies Dicky Tri Ganesha; Dayan Hakim Natigor Sipahutar; Yoyo Sudaryo; Nunung Ayu Sofiati
Eduvest - Journal of Universal Studies Vol. 4 No. 9 (2024): Journal Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v4i9.1798

Abstract

The share prices of mining companies included in the LQ 45 Index are unstable because they experience increases and decreases from 2018 to 2023 (5 years).  If the other independent variables remain constant, each increase is one unit Debt to Equity Ratio will reduce share prices -0.643. Then influence Total Asset Turnover to Share Prices in Mining Companies that are members of the LQ 45 Index for the 2018-2023 period is a significant and positive influence. If the other independent variables remain constant, each increase is one unit Total Asset Turnover will increase the share price by 0.453. Furthermore, the influence of ROA (Return On Asset) to Share Prices in Mining Companies that are members of the LQ 45 Index for the 2018-2023 period is a significant and negative effect. If the other independent variables remain constant, each increase is one unit Total Asset Turnover will lower the Share Price 1,060. and Current Ratio, Debt to Equity Ratio, Total Asset Turnover, ROA (Return On Asset) simultaneous significant effect on share prices in Mining Companies that are members of the LQ 45 Index for the 2018-2023 period with a percentage of 79% means that it is 79% Current Ratio, Debt to Equity RatiO,Total Asset Turnover and ROA (Return On Asset) to Stock Price and the rest 21% influenced by factor other than the variables studied.
Comparative Analysis Of Investment Return Calculations Between Single Index Model (SIM), Capital Asset Pricing Model (CAPM), And Arbitrage Pricing Theory (APT) In 8 Mining Company Sectors Dinda Noviani; Dayan Hakim Natigor Sipahutar; Yoyo Sudaryo; Nunung Ayu Sofiati; Tjipto Sajekti
Eduvest - Journal of Universal Studies Vol. 4 No. 9 (2024): Journal Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v4i9.1799

Abstract

This study aims to analyze the comparative calculation of investment return rates between three models, namely Single Index Model (SIM), Capital Asset Pricing Model (CAPM), and Arbitrage Pricing Theory (APT), in eight mining company sectors listed on the Indonesia Stock Exchange (IDX 30). This study uses historical data from the mining company sectors to calculate and compare the investment return rates based on these three models. The research method used is statistical analysis to evaluate and compare the predicted investment return rates from the Single Index Model (SIM), Capital Asset Pricing Model (CAPM), and Arbitrage Pricing Theory (APT). The data used includes historical stock prices, company financial data, and relevant market data. The results of this study are expected to provide a better understanding of the effectiveness and advantages of each model in the context of mining companies listed on IDX 30. The results of this study show that the Single Index Model (SIM) indicates a moderate financial potential with an average value of 7,58, which is lower compared to CAPM. A high risk (beta) of 2,20 indicates that this investment has a higher risk than the market. On the other hand, the Capital Asset Pricing Model (CAPM) has a higher average return value of 19,15, indicating greater profit potential but also commensurate risk. The Arbitrage Pricing Theory calculation of 6,46, the lowest, reflects a more cautious calculation of return estimates. The inflation beta risk value of 100.924,50 and the deposit interest beta risk of 9.320,14 are very high.
The Role of Tranformational Leadership in Enhancing an Inclusive Organizational Culture at PT Indofood Sukses Makmur TBK Bandung: a Study on Workforce Diversity Program Implementation Hendriawanto Hendriawanto; Gurawan Dayona Ismail; Mochammad Mukti Ali; Nunung Ayu Sofiaty; Yoyo Sudaryo
Eduvest - Journal of Universal Studies Vol. 5 No. 2 (2025): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v5i2.50834

Abstract

This study analyzes the impact of transformational leadership and employee performance on an inclusive organizational culture at PT Indofood Sukses Makmur Tbk, Bandung. Using path analysis, the results reveal that transformational leadership significantly enhances an inclusive culture, supported by the positive contribution of employee performance. The workforce diversity program plays a key role in promoting diversity and inclusion. Recommendations include leadership training, strengthening diversity programs, and implementing performance evaluations centered on inclusion.
The Influence of Total Quality Management, Leadership Style, Organizational Culture and Organizational Commitment on Employee Performance at PT. Tunas Mobilindo Perkasa Bandung Yulia Dyah Anggraeni; Gurawan Dayona Ismail; Mochammad Mukti Ali; Nunung Ayu Sofiaty; Yoyo Sudaryo
Eduvest - Journal of Universal Studies Vol. 5 No. 2 (2025): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v5i2.50835

Abstract

This research seeks to examine how “Total Quality Management (TQM), leadership style, organizational culture, and organizational commitment” on employee performance at PT. Tunas Mobilindo Perkasa Bandung. This research utilizes a quantitative research approach to examine causal relationships between variables. Multiple linear regression analysis was employed to analyze the data. The results indicate that all independent variables significantly affect employee performance both partially and simultaneously. In the partial model, TQM (β = 0.602, p < 0.005), leadership style (β = 0.826, p < 0.005), organizational culture (β = 0.801, p < 0.005), and organizational commitment (β = 1.000, p < 0.005) are all significant predictors of the outcome variable. Simultaneously, the four variables explain 95.1% of the variation in employee performance with an F value of 1778.807 and a significance of 0.000. Organizational commitment emerges as the most dominant factor, followed by organizational culture, leadership style, and TQM. These findings underline the importance of optimizing these four factors to enhance employee performance and support corporate goals.
The Influence Of Training, Competence, And Leadership On Lecturer Career Development Through Work Motivation As An Intervening Variable Reza Jordan; Gurawan Dayona Ismail; Nunung Ayu Sofiati; Mochammad Mukti Ali; Yoyo Sudaryo
Eduvest - Journal of Universal Studies Vol. 5 No. 8 (2025): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v5i8.51613

Abstract

The results of the study indicate that training has an effect on work motivation. The original sample value for variable X1 (training) on Y (work motivation) is 1.14, with a t-statistic of 13.524 and p-values of 0.000, which is smaller than the significance level, indicating a positive and significant influence between variable X1 (training) and Y (work motivation). The original sample value implies that better and higher training leads to better and higher work motivation. Furthermore, competence influences work motivation. The original sample value for variable X2 (competence) on Y (work motivation) is -0.177, with a t-statistic of 2.593 and p-values of 0.01, which is smaller than the significance level, indicating a non-positive but significant influence of variable X2 (competence) on Y (work motivation). Leadership influences work motivation. The original sample value for variable X3 (leadership) on Y (work motivation) is 0.03, with a t-statistic of 0.771 and p-values of 0.441, which is smaller than the significance level, indicating a positive and significant influence of variable X3 (leadership) on Y (work motivation). The original sample value implies that better and higher leadership leads to better and higher work motivation. Subsequently, work motivation influences career development. The original sample value for variable Y (work motivation) on Z (career development) is 0.348, with a t-statistic of 1.645 and p-values of 0.1, which is smaller than the significance level, indicating a positive and significant influence of variable Y (work motivation) on Z (career development).
The Effect Of Training, Competence, And Leadership On Job Satisfaction With Career Development As An Intervening Variable At Xyz Hospital Kartika Bunga Fajar; Gurawan Dayona Ismail; Nunung Ayu Sofiati; Mochammad Mukti Ali; Yoyo Sudaryo
Eduvest - Journal of Universal Studies Vol. 5 No. 8 (2025): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v5i8.51804

Abstract

This study aims to examine the influence of training, competence, and leadership on career development, with job satisfaction acting as a mediating variable. The research uses a quantitative approach with a sample of 100 employees, analyzed using multiple linear regression and path analysis. Data were collected through a structured questionnaire, and the classical assumption tests confirmed that the regression model met the requirements of normality, no multicollinearity, and no heteroscedasticity. The results show that training, competence, and leadership have a positive and significant direct effect on both job satisfaction and career development. In addition, job satisfaction also has a significant direct impact on career development, making it a strong mediating variable. The coefficient of determination (R² = 0.648) indicates that 64.8% of the variation in career development is explained by the variables of training, competence, leadership, and job satisfaction. The Sobel test results further confirm that job satisfaction mediates the relationship between the independent variables and career development. These findings suggest that organizations should focus on improving employee training, enhancing competencies, and strengthening leadership practices, as well as maintaining high job satisfaction, to effectively support employees’ career advancement.
The Influence of Transaction Channel Preference and Cash Handling Behavior on the Achievement of Cash Donations in the ‘Charity Box Personal’ Program (A Research at the Humanitarian Organization Kilau Indonesia) Akhmad Sugandi; Yoyo Sudaryo; Nunung Ayu Sofiati; Mochammad Mukti Ali; Gurawan Dayona Ismail
Eduvest - Journal of Universal Studies Vol. 5 No. 9 (2025): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v5i9.52150

Abstract

The rapid digitization of financial transactions in Indonesia has fundamentally altered consumer payment behaviors, creating significant challenges for traditional cash-based charitable fundraising methods. This research investigates how donors’ Transaction Channel Preference and Cash Handling Behavior shape Cash Donation Achievement in Kilau Indonesia’s “Charity Box Personal” program. Using a cross-sectional survey of N=200N=200 donors sampled via stratified random procedures across four West Java regencies, Likert-type measures for both predictors were converted to interval scales with the Method of Successive Intervals (MSI). Multiple linear regression with SPSS 27 indicates a significant model fit (R=0.817R=0.817; R2=0.667R2=0.667; F(2,197)=197.233F(2,197)=197.233, p<.001p<.001). Transaction Channel Preference negatively predicts cash donations (β=−0.614β=−0.614, p<.001p<.001), consistent with a channel-substitution mechanism as donors favor digital payments. Contrary to expectation, Cash Handling Behavior also shows a negative association (β=−0.538β=−0.538, p<.001p<.001), suggesting that stricter cash budgeting reduces ad-hoc giving opportunities. Diagnostics (Durbin–Watson ≈ 1.94; no notable multicollinearity) support model validity. Managerially, nonprofits should adopt an omnichannel strategy by integrating QRIS into physical boxes and reporting combined (cash + digital) metrics. Theoretically, findings connect UTAUT, Perceived Value, and the Theory of Planned Behavior to explain declining cash-based philanthropy in a rapidly digitizing context.
Co-Authors Abdul Aziz Mubarok, Dadan Abdul Aziz, Dadan Ade Salman Alfarisi Adhima, Rio Fauzan Agung Setiawan Agus Wawan Setiawan Akhmad Sugandi Aldi Rahman Lazuardi Aldit Rahman Prayogo Aleni Sahriza Kusnedi Alfarisi, Ade Salman Ali, Mochamad Mukti Amanati, Nuzul Ana Hadiana Ana Hadiana, Ana Andi Sukandi Andre Suryaningprang Andre Suyaningprang Andriasan Sudarso Anggono Raras Tirto Sakti Anik Rahayu, Anik Anka Fandini Aprilliani, Pritta Ardinal Djalil Arie Hendra Saputro Arief Yulianto Arief Yulianto Aris Setiyani, Aris Asti Nur Aryanti Astrin Kusumawardani Ayatika, Arini Aziz, Dadan Abdul Budiantara, Jaka Perbawa Cahyono, Yoyok Cellia, Cindy Chaidir, Moehammad Ilham Chikalara Chikalara Dadan Abdul Azis Mubarok Dadan Abdul Aziz Dadan Abdul Aziz Dadan Abdul Aziz Dadan Abdul Aziz Mubarok Dadan Abdul Aziz Mubarok Dayan Hakim Natigor Dayan Hakim Natigor Sipahutar Dayona Ismail, Gurawan Dayona, Gurawan Deni Hamdani Dexa Revikhasah N.H Diah Febriyanti Dicky Tri Ganesha Diki Wahyu Nugraha Dinda Noviani Doni Zaelani Dyah Purnamasari E Landitha Karunia Antika Eko Djoko Prabowo Eko Djoko Prabowo Eko Djoo Prabowo Eli Nur Syiam Erna Herlinawati Fanji Wijaya Fany Oktaviani Farhan Dzulfiqri Febrianto Febrianto, Febrianto Febriyanti, Diah Fina Fahrina Fahrunisa Fitri Julianti Fitriani, Epi Gunawan Dayona Ismail Gunawan, Wulandari Gurawan Dayona Ismail Gurawan Dayona Ismail Gurawan Dayona Ismail Gurawan Dayona Ismail Gurawan Dayona Ismail Gustiawan, Rudi Hakim Natigor Sipahutar, Dayan Harry Ariandi Sepnadi Hendi Suhendraya Muchtar Hendriawanto Hendriawanto Hikmah, Agung Mohamad Hilman Fauzan Hilmi Herdiana Hisashi, Rendy Mahardhika Icha Mustika Wahyudi Icha Sandrina, Icha Sandrina Intan Paujijah Ira Rohaeny Irma Nuraliyya Irving Ignatius Paul Luntungan Ismail, Dr. Gurawan Dayona Ismail, Gurawan Dayona Ita Kumaratih Johannes Triestanto Juanda, Ujang Jumadil Saputra Kalista Nuraini Putri Kaniasari Wulan Dewi Kartika Bunga Fajar Karunia Antika, E Landitha Khairunisya, Hania Khoirunnisa, Asyifa Kingking Muttaqien Kumaratih, Ita Laela, Sri Lazuardi, Aldi Rahman Lenggogeni, Lenggogeni Lidya Srinita Br Ginting Lili Suryati Lintang Maritza Basari Putri Listri Herlina Luntungan, Irving Ignatius Paul Luska Lusyana Sari Maisye Angelina Sumiok Manasye Arveni Sinamo Manoakh Nenobais Maudhy Rahmawati Hartono Putri Maulani, Magfira Gifani Meilani, Haifa Syafira Mey Mey Yosilia Putri Mochammad Mukti Ali Mochammad Zulfiqa Mohamad Akmal Iriana Mohamad Arfiman yosep Mohamad Arfiman Yosep Mohd Hassan Che Haat Mohd Yusoff Yusliza Mubarok , Dadan Abdul Muhamad Maulana Muhamad Ramdhani Muhammad Rayhan Alderiestara Muhammad Yusuf Mukti Ali, Mochamad Mukti Ali, Mochammad Munjinadir, Hafid Mutia Cahaya Pratiwi Muttaqin , Ridlwan Muttaqin, Ridlwan Nadia Aulia Melenia Naila Masfuroh Naina Aprillia Syafitri Nandan Limakrisna Naufal, Aldi Nenobais, Manoakh Niken Agustin Nisa, Syakila Sakinatun Novita Tri Hapsari Nunung Ayu Sofianti Nunung Ayu Sofianti (Efi) Nunung Ayu Sofiati Nunung Ayu Sofiati (Efi) Nunung Ayu Sofiaty Nunur Fitri Pratiwi Nur Sumawidjaja, Riyandi Nur Sumawidjaya, Riyandi Nuraini, Risda Nurlaela, Ika Nurshifa Putri Irawan Nurul Afifah, Rima Omo Permana Omo Permana Palupi Permata Rahmi Permana, Ari Permana, Omo Pertiwi, R. Dewi Prasetiyo, Wildan Guretno Pratidina Ekanesia Pujianto, Gatot Purnamasari, Weny R. Rheina Amalina Iskandar Rahma Fauziah Rama Chandra Jaya Rasti Ristiya Recky Rega, Mochammad Regina Izatuisa Reni Rahmawati Reviana, Raisa Reydha Arilia Ramanandita Reza Jordan Ridlwan Muttaqin Ridwan Ramadhan Rifqi Farisan Akbar Rima Nurul Afifah Rimayani, Rimayani Riyandi Nur Sumawidjaja Riyandi Nur Sumawidjaja Riyandi Nur Sumawidjaja Riyandi Nur Sumawidjaja Riyandi Nur Sumawidjaya Riyandi Nur Sumawidjaya Rizki Fathurrahman Septian Ruth Betania Ryan Marshal Fauzy Safitri, Meilina Santi Susila Nengsih Santika Santika Sayyidinaa Zahra Ridha Pramitha Sevina Hanisa Anindya Siddiq, Andhika Mochamad Silvi Rosyanti Siska Amelia Siti Nur Asyifa, Alma Siti Sabila Siti Sarah, Siti Siti Susanti Solihah, Maya Sonia Chandra Utami Suci Fauziah Lestari Sudarmadji, Harrys Suhendar Suhendar Sujatmika, Dendi Sumawidjaya, Riyandi Nur Supiyadi, Dedi Surachman Surjaatmadja Surachman Surjaatmadja Susila Nengsih, Santi Sutaryat Trisnamansyah Sutisna Sutisna Syamsul Bachri Thessa Tri Astuty Tiara Keysha Septiani Putri Tjipto Sajekti Tjipto Sajekti Wardana, Wikrama Wiara Sanchia Grafita Ryana Devi Wulandari Gunawan Yasa Kanaya Tedjo Yosi Josiva Yulia Dyah Anggraeni Zikri Muhammad Zio Priadita S Zulfiqar, Mochammad